Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0156%/8h= −17.1% APRpaid last 24h −0.057%

Price spread now: Bulk against KuCoin−0.236%7-day average −0.110% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$1131.129% of the position

Long on KuCoin Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.056%−$6 on $10k

Price spread, last 4 days (all we have)+0.063%+$6 · spread now −0.236%, 7d avg −0.110%

Together, before fees+0.007%+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Bulk is 0.126% cheaper against KuCoin than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.110%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MONUSDTM	0.02561	0.0256	pay 0.0128% / 4h	6m 16s	$3.0M	$719K	75x
Short	Bulk MON-USD	0.02555	0.0100	get 0.0013% / 1h	6m 16s	$107K	−$0	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee KuCoinbpFee BulkbpOrdersPrice spread, now −0.236%Rate

Funding earned: −$32.76
Price spread: −0.236% → −0.110%: −$12.61
Slippage, 4 orders: −$93.9
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$158.27
Costs to cover: 1.129%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Bulk: live order book, 7 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy KuCoin live order book, 6 min ago	13.66 bp	30.5 bp −$31	620.6 bp −$6,206	doesn't fit	doesn't fit
Sell Bulk live order book, 7 min ago	19.57 bp	23.1 bp −$23	74.1 bp −$741	457.9 bp −$45.8K	doesn't fit

MON on 33 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective MON/USDC PERP	−0.0121%	1h	0.02559	−0.078%	$6K	$109	5.5x	as long as short
01 Exchange MONUSD	−0.0096%	1h	0.02556	−0.203%	$6K	$1K	5x	as long as short
Bybit MONUSDT	−0.0030%	8h	0.02555	−0.234%	$21.1M	$12.1M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02559	−0.082%	$13K	$360K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02557	−0.172%	$69K	$119K	25x	as long as short
Orderly PERP_MON_USDC	+0.0070%	4h	0.02556	−0.195%	$17K	$64K	10x	as long as short
Aftermath Perps MONUSD	+0.0092%	1h	0.02558	−0.103%	$3K	$75K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02558	−0.117%	$849K	$794K	10x	as long as short
Paradex MON-USD-PERP	+0.0097%	8h	0.02555	−0.217%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02560	−0.033%	$390K	$541K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MON	+0.0100%	1h	0.02560	−0.020%	$34.6M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02558	−0.120%	$106K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02557	−0.144%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02557	−0.160%	$141K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02557	−0.156%	$24.4M	$25.5M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02555	−0.234%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USDshort	+0.0100%	1h	0.02555	−0.236%	$107K	−$0	10x
Gate MON_USDT	+0.0100%	4h	0.02557	−0.156%	$975K	$913K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02558	−0.117%	$2.7M	$1.9M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02558	−0.125%	$127K	$141K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02554	−0.267%	$772K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02557	−0.143%	$47K	$243K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02560	−0.040%	$580K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02559	−0.078%	$68K	$482K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02555	−0.234%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02559	−0.079%	$51K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02556	−0.215%	$39K	—	3x	as long as short
KuCoin MONUSDTMlong	+0.0256%	4h	0.02561	long leg	$3.0M	$719K	75x
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02557	−0.168%	$8K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02554	−0.273%	$1.3M	$306K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0422%	1h	0.02560	−0.058%	$269K	$78K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02557	−0.176%	$124K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0480%	1h	0.02609	+1.870%	$115K	$50K	50x	as long as short